This is a graph from Paul Krugman's Inequality and Crises PDF. The trend-line rises to a sharp peak somewhere around 1933, then falls until about 1945, then begins another long rise.
This is my graph of (M2-M1)/M1, or Money in Savings relative to Money in Circulation. This is the graph that shows Monetary Imbalance. It rises to a peak around 1930, falls until 1945, then begins another rise.
This is my graph of Debt per Dollar, or DPD. This is the graph that shows excessive debt. It rises to a peak in 1933, falls to a low in 1947, then begins another long rise.
Total Debt (relative to the quantity of M1 money) follows a pattern very similar to Total Savings (relative to the quantity of M1 money). Both follow a pattern very similar to Krugman's Finance as a Share of GDP.
Savings are the raw material of Finance, and Debt is its product. The three graphs move together because of this relationship.
Should we so desire, U.S. monetary policy can control both the level of Debt and the preponderance of Finance, simply by controlling the relation between Savings and M1 money.
If you think it wise to get debt under control... If you think it a good idea to get Finance under control... Then you must reduce and stabilize the ratio of Savings to Circulating money.
Nothing else will solve our economic problem.